Porsche is no stranger to hybrid vehicles. The German automaker introduced a hybrid version of its Panamera and Cayenne last year. In addition, the 918 Spyder “hypercar” is due to hit the market shortly. Porsche has announced that it is now adding a new plug-in hybrid version of its Panamera.

The plug-in hybrid is called the Panamera S E-Hybrid and it offers improved efficiency and performance compared to the previous Panamera S Hybrid. The new hybrid vehicle produces 416 hp total including the output from its 95 hp electric motor. The previous hybrid had a 47 hp electric motor.

The E-Hybrid also features a significantly larger lithium-ion battery pack offering 9.4 kWh compared to 1.7 kWh of power for Panamera S Hybrid. The Panamera S E-Hybrid can be plugged into a 240 V wall outlet to charge the internal battery pack in about 2.5 hours.

The Panamera E-Hybrid also features the ability to drive on electricity alone for about 20 miles and has an electric-only top speed of 84 mph. Since the plug-in hybrid is after all a Porsche, it will also offer spirited performance with the ability to reach 60 mph in 5.2 seconds. The top speed of the car is 167 mph.

While the new hybrid car will undoubtedly get better fuel economy, EPA estimates for the car are not available at this time.

The Panamera S E-Hybrid will start at $99,000 when it launches later this year.